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starting new buisness
so i am thinking in a year or 2 i am going to start my own buisness it is going to be a small resteraunt that has bbq style menu ribs/chicken a few cold and hot sandwiches and i have ben a cook for the last 5 years so i am going to the bank tomarow to talk about what i need to do to get on the right track to compleating my goals..........here is my problem i have ben a COOK for five years and have trained many people and am a verry good people person but i know nothing of the paperwork side calculating yearly incomes etc. just wondering if anyone has any advice
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Re: starting new buisness
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money. :)
there is a guy on here who ran his restruant, just can't think of his name, he could help |
Re: starting new buisness
raffi was that guy. d16forlife, i think his handle is. I just call him cheeks and he answers to that :-*
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Re: starting new buisness
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money. :)
there is a guy on here who ran his restruant, just can't think of his name, he could help The key to success in the restuarant business is 2 things: 1) spend the extra $ for a busy location 2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest. I have a lot more where that came from so just pm me. |
Re: starting new buisness
yeah i have read the posts of who you are talking about but dont know his name ethier....around here in this part of oregon good food is hard to come by and authentic bbq is almost imposible my plan is to keep my overhead cost down as much as i can and serve good food at a reasonable price i am not looking to get rich but its better than working for someone else
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Re: starting new buisness
i own my own business now. its already hit that 5 year mark. going on 6 years. guess we'll see what happens. if u need any tips man pm me
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Re: starting new buisness
You could look for a local SCORE chapter in your area ( http://www.score.org ). They have classes and can sometimes do small business counseling and/or find you a mentor. That and your local Small Business Association ( http://www.sba.gov )
Most banks probably won't give you the time of day until you have a solid business plan. But those are a fewthings to check out. I'd also consider getting an accountant. Doesn't have to be someone whom you deal with (and pay) every day, but someone you can talk to about financial issues and can help manage your money. |
Re: starting new buisness
Originally Posted by LSD Motorsports
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money. :)
there is a guy on here who ran his restruant, just can't think of his name, he could help The key to success in the restuarant business is 2 things: 1) spend the extra $ for a busy location 2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest. I have a lot more where that came from so just pm me. i just set up an s corporation clothing company, and i have to submit a 941 to the irs by the 31st and i have no idea how to do any of this. any websites or anything i can look up? or are you just a soul proprietorship? |
Re: starting new buisness
Originally Posted by rawr
Originally Posted by LSD Motorsports
Originally Posted by jaykew99
95 percent of small businesses fail within their first 5 years. This is something to think about man, make sure its perfect and your plan is solid. sorry i didnt help with your paperwork advice, i was just throwing a fact i learned. i really hope your ---- works out good, ribs are money. :)
there is a guy on here who ran his restruant, just can't think of his name, he could help The key to success in the restuarant business is 2 things: 1) spend the extra $ for a busy location 2) Always promote the restaurant everywhere possible, try and work out deals with local high schools, big flyers and banners for grand opening. Also give out free food for a couple of days to spark some interest. I have a lot more where that came from so just pm me. i just set up an s corporation clothing company, and i have to submit a 941 to the irs by the 31st and i have no idea how to do any of this. any websites or anything i can look up? or are you just a soul proprietorship? I would get a lawyer... |
Re: starting new buisness
The best advice I could give you would be to take a simple book keeping class. Usually one of the top reasons 95 percent of businesses fail is because they cant keep their books in order, or are doing them incorrectly and being penalized. It would be well worth it to look into one of these types of classes. Local community colleges usually offer such programs!!!
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Re: starting new buisness
Originally Posted by 70Challenger
The best advice I could give you would be to take a simple book keeping class. Usually one of the top reasons 95 percent of businesses fail is because they cant keep their books in order, or are doing them incorrectly and being penalized. It would be well worth it to look into one of these types of classes. Local community colleges usually offer such programs!!!
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Re: starting new buisness
Don't try to do everything yourself.
If you aren't good with the books, find a partner that will do them for you. If you haven't already, read the E-Myth by Michael Gerber ASAP. It talks about the difference between a technician and a business owner. The just of it is, just because you can make a good product, doesn't mean you will run a good business. Anyone can make a better burger than McDonalds, but the reason they are successful is because they have francising down, they are good business people, not burger makers. Anyways, get that book and read up! I was an entrepreneurship emphasis in business school and I read a TON of books on the subject. I would definately start with the E-Myth and go from there. Good luck!! P.S. Don't let anyone discourage you with those statistics about how many businesses fail. Guess what? A lot of businesses do fail, but at the same time, a lot of businesses really suceed and make millions for the owners. Don't let anyone tell you that you can't do it, many of the world's most sucessful businesses were started by people who were told that they were going to fail. |
Re: starting new buisness
oh man, i wasn't trying to discourage, I really hope he succeeds, I was just letting him know that there is alot that goes into making a small business work and he better be ready for that. I wish him all the luck, sorry if you took that wrong homie.
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Re: starting new buisness
Originally Posted by ej1 wilcox
Don't try to do everything yourself.
You'd be better off paying someone $50 a week to keep your books in order than wasting your (valuable) time trying to do them yourself or learn how to do them yourself... in addition to all the ---- you reallt need to learn. |
Re: starting new buisness
My father-in-law failed at his business, and therefore told me "you shouldn't start you're own business. It doesn't work". hahaha.
On top of both my businesses, I'm bangin his daughter. ---- the naysayers. |
Re: starting new buisness
------ A ill eat there.
10 bucks if you come cook me dinner right now brutha, i know you're local. |
Re: starting new buisness
Originally Posted by Stealthmode
---- the naysayers.
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Re: starting new buisness
Originally Posted by Stealthmode
My father-in-law failed at his business, and therefore told me "you shouldn't start you're own business. It doesn't work". hahaha.
On top of both my businesses, I'm bangin his daughter. ---- the naysayers. |
Re: starting new buisness
Originally Posted by Stealthmode
My father-in-law failed at his business, and therefore told me "you shouldn't start you're own business. It doesn't work". hahaha.
On top of both my businesses, I'm bangin his daughter. ---- the naysayers. |
Re: starting new buisness
is raffi MIA these days? Seems more of our senior members are mia... :-[
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Re: starting new buisness
i was told about this website today www.score.org they help you with all your buisness needs and questions all free of charge lots of info there just thaught i would share
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Re: starting new buisness
hire an accountant ;)
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Re: starting new buisness
Originally Posted by crxmobinvtec
i was told about this website today www.score.org they help you with all your buisness needs and questions all free of charge lots of info there just thaught i would share
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Re: starting new buisness
Not sure about your local and the acceptence of a scene there. A *good* BBQ chain down here tried opening a resturant in Chicago(I think) and it failed horribly. No business at all. Make sure the local is right for BBQ.
BTW Southern BBQ rocks... Alabama BBQ owns. |
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